Infosys extends losses for third day, down 1 percent

The Infosys Limited stock was trading nearly a percent lower at Rs 1,481 in the early trade on September 21, extending losses for the third straight session even after the Indian IT services player announced a partnership with NVIDIA to build generative AI tools for businesses.

Infosys plans to set up an NVIDIA centre of excellence where 50,000 employees will be trained and certified on the American chip giant’s AI technologies, the company said in a statement to the press on September 20.

NVIDIA’s AI Enterprise ecosystem of models, tools, runtimes, and GPU systems would be brought to Infosys’s AI-first offering Topaz as part of this alliance, it said.

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“Infosys is transforming into an AI-first company to better provide AI-based services to our clients worldwide. Our clients are also looking at complex AI use cases that can drive significant business value across their entire value chain,” co-founder and chairman Nandan Nilekani said.

The collaboration extends to digitalisation applications, with a primary focus on creating solutions related to 3D workflows, digital twins, world simulation, and more. Infosys and NVIDIA jointly develop AI-powered solutions in various domains, including 5G technologies, cybersecurity, and energy transition.

Also read: Reliance, NVIDIA to develop indigenous large language model for AI in India

In early September, NVIDIA announced partnerships with Reliance and the Tata Group. In collaboration with Jio, NVIDIA will provide comprehensive AI supercomputer technologies, encompassing CPU, and networking.

With the Tata Group, NVIDIA will assist in developing and processing generative AI applications. It will also aid in upskilling Tata Consultancy Services with over six lakh employees in AI.

Read more: AI could be India’s largest export, says Nvidia CEO Jensen Huang

At 9:44 am, the stock was trading at Rs 1,479.40 on the National Stock Exchange, down 0.73 percent from the previous close.

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